Energy Vault (NYSE:NRGV) Issues Earnings Results

Key Points

• Energy Vault has shifted into an integrated IPP and digital infrastructure model with a record backlog of $1.35 billion, over 1 GW of assets under control and visibility to an estimated ~$180 million recurring EBITDA run rate.
• Management flagged strong AI power‑infrastructure momentum — 100 MW of powered land/shell announced (75 MW in construction, COD target Jan 2027) expected to deliver ~$65 million recurring EBITDA in the next 12–18 months, with potential to scale toward ~1 GW.
• Q1 results missed estimates with EPS of ($0.20) vs. ($0.15) expected and adjusted EBITDA of ($13.6 million), but revenue grew 156% YoY to $21.9 million, cash was $117.1 million, 2026 revenue guidance of $225–300 million was reaffirmed, and shares jumped ~13.4%.

Energy Vault (NYSE:NRGV - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.05), Zacks reports. Energy Vault had a negative net margin of 50.87% and a negative return on equity of 106.69%.

Here are the key takeaways from Energy Vault's conference call:

• Energy Vault has transitioned into an integrated IPP and digital infrastructure platform with a record backlog of $1.35 billion, over 1 GW of assets under control, and visibility to a ~$180 million recurring EBITDA run rate, signaling a shift toward long-duration, higher‑margin cash flows.
• Management highlighted strong AI power‑infrastructure momentum — 100 MW of powered land/shell announced (75 MW in construction with COD targeted Jan 2027) and powered land/shell expected to deliver ~$65 million recurring EBITDA in the next 12–18 months, with potential expansion to ~1 GW under study.
• Q1 financials show rapid top‑line growth and liquidity improvements with revenue of $21.9 million (+156% YoY), adjusted gross margin ~27.9%, cash of $117.1 million, and reaffirmed 2026 guidance of $225–300 million revenue and year‑end cash $150–200 million.
• Profitability remains pressured as the company invests in its own‑and‑operate strategy — adjusted EBITDA was negative $13.6 million and adjusted net income negative $20 million, driven by higher D&A, personnel and project financing costs.

Energy Vault Stock Up 13.4%

Shares of NRGV stock traded up $0.60 on Tuesday, reaching $5.04. 7,585,621 shares of the stock were exchanged, compared to its average volume of 3,598,085. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.56. The business's 50 day moving average price is $3.52 and its 200 day moving average price is $3.98. The company has a market capitalization of $870.95 million, a price-to-earnings ratio of -7.75 and a beta of 1.14. Energy Vault has a twelve month low of $0.65 and a twelve month high of $6.35.

Insider Activity at Energy Vault

In related news, CFO Michael Thomas Beer sold 65,000 shares of the business's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $3.18, for a total transaction of $206,700.00. Following the completion of the transaction, the chief financial officer owned 1,060,945 shares in the company, valued at approximately $3,373,805.10. The trade was a 5.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 16,950 shares of company stock worth $55,062 in the last three months. Insiders own 17.20% of the company's stock.

Hedge Funds Weigh In On Energy Vault

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC boosted its stake in Energy Vault by 141.2% in the third quarter. Millennium Management LLC now owns 5,858,734 shares of the company's stock valued at $17,400,000 after acquiring an additional 3,430,094 shares in the last quarter. State Street Corp boosted its stake in Energy Vault by 1,004.0% in the fourth quarter. State Street Corp now owns 5,697,735 shares of the company's stock valued at $26,267,000 after acquiring an additional 5,181,624 shares in the last quarter. Marshall Wace LLP boosted its stake in Energy Vault by 132.7% in the fourth quarter. Marshall Wace LLP now owns 3,194,205 shares of the company's stock valued at $14,725,000 after acquiring an additional 1,821,462 shares in the last quarter. Invesco Ltd. acquired a new position in Energy Vault in the fourth quarter valued at $11,454,000. Finally, Vanguard Group Inc. boosted its stake in Energy Vault by 20.4% in the third quarter. Vanguard Group Inc. now owns 1,823,443 shares of the company's stock valued at $5,416,000 after acquiring an additional 308,509 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

NRGV has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their target price on Energy Vault from $1.75 to $2.00 and gave the company a "sell" rating in a research report on Thursday, March 19th. Fundamental Research set a $6.05 price objective on Energy Vault and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Cantor Fitzgerald began coverage on Energy Vault in a research report on Tuesday. They set an "overweight" rating and a $7.00 price objective on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Energy Vault in a research report on Friday, January 9th. Finally, Zacks Research lowered Energy Vault from a "hold" rating to a "strong sell" rating in a research report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $5.02.

About Energy Vault

Energy Vault is a global energy storage technology company specializing in long-duration, gravity-based energy storage solutions. Founded in 2017 and headquartered in Lugano, Switzerland, the firm has developed a modular system that uses large composite blocks and a proprietary crane system to convert excess renewable energy into gravitational potential energy. When energy demand peaks, the system lowers the blocks to generate electricity through regenerative braking, offering a dispatchable, carbon-free alternative to traditional battery storage.

The company's flagship product line, EVx, integrates advanced materials science, software-driven controls and artificial intelligence to optimize charge and discharge cycles.

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